Sanofi's $125 million milestone lifted the quarter's results.
NVAX Novavax Inc
XNAS
10.89
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
NVAX
$10.89
—
What changed
Recent filings, trades and movesKey stats
$10.89
- 52-Week Range
- $6.20 – $13.38
- YTD
- +52.73%
- IV Rank (30D)
- 25.87
- Straddle Price
- $2.48
- P/C Vol Ratio
- 0.47
- Market Cap
- $1.8B
- Open
- $10.83
- Day Range
- $10.42 – $11.20
- Volume
- 8,495,573
- Prev Close
- $10.78
Fair Value
MODEL: SHORT
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.90% |
| Beta vs SPY | 1.64 |
| Cost of Equity (CAPM) | 13.92% (VRP-adj) |
| WACC | 12.75% |
| Volatility Risk Premium | +46.5pp (IV − HV30), ERP adj +50bps |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | -10.0% |
| DCF Horizon | 10 years explicit + fade |
| Free Cash Flow (TTM) | $-0.0B |
| Return on Equity (TTM) | 129.9% |
| Book / Price | -12.2% |
| Gross Margin (TTM) | 78.0% |
| FCF Margin (TTM) | -10.5% |
| Quality Score | 2/6 — normal (10y DCF) |
| SMA 50 | $10.56 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $10.79 |
| Bollinger Width / SMA20 | 41.3% (drives anchor stability) |
| Net Debt | $0.1B |
| Market Cap | $2B |
Peers used for multiples: AMGN, BIIB, EXEL, GILD, MRNA, NTRA, REGN, VRTX
60-Day Conviction
33%
20-Day Fair Value
≈ by Dec 8, 2026
$10.76
α -1.2%
rank 53%
conviction
72%
40-Day Fair Value
≈ by Jan 6, 2027
$10.98
α +0.9%
rank 53%
conviction
33%
60-Day Fair Value
≈ by Feb 4, 2027
$10.76
α -1.2%
rank 53%
conviction
33%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | median 26.5× · 5 peers |
| Peer EV/EBITDA | n/a | 0% | median 19.6× · 6 peers |
| Peer P/B | n/a | 0% | median 11.7× · 8 peers |
| Peer P/S | $16.75 | 11% | median 6.7× · 8 peers |
| Market Anchor (SMA50) | $10.56 | 51% | stability 69% (BB-width) |
| Options Expected (B-L 30d) | $10.05 | 37% | 31 strikes · skew +0.36 |
As of 2026-11-09 · updated
Related
About
- Industry (SIC)
- BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) (2836) · industry map
- Exchange
- XNAS
- Market Cap
- $1.8B
- Employees
- 749
- List Date
- 1995-12-05
- CIK
- 0001000694
- Last Earnings
- Nov 5 before open · −8.2% vs ±12.8% expected
- Next Earnings
- ~Feb 25, 2027 (estimated)
- Headquarters
- Gaithersburg, MD
- Homepage
- https://www.novavax.com
Novavax Inc is a biotechnology company that develops vaccines. The company works in the clinical stage of development with a focus on delivering novel products that prevent a broad range of diseases. It works together with its wholly owned Swedish subsidiary to produce vaccine candidates to respond to both known and emerging disease threats. The company believes its vaccine technology has the potential to be applied broadly to a wide variety of human infectious diseases. The company manages its business as one operating segment, an in-house early-stage R&D business to build a pipeline of high-…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 95.56% | -34.43% | 11.44% | -20.48% | 1.40% | 24.05% | 12.92% |
| Feb | -13.82% | -12.41% | -17.54% | 22.89% | -1.19% | 16.69% | -0.90% |
| Mar | -24.55% | -12.05% | 1.02% | -11.32% | -18.55% | -19.49% | -14.16% |
| Apr | 27.51% | -39.36% | 3.65% | -6.88% | 11.17% | -1.18% | -0.85% |
| May | -24.34% | 2.94% | 4.27% | 221.84% | 14.51% | 36.44% | 42.61% |
| Jun | 46.02% | -4.12% | -3.76% | -30.52% | -10.89% | -10.37% | -2.27% |
| Jul | -16.88% | -4.62% | 25.75% | 0.63% | 0.61% | -22.04% | -2.76% |
| Aug | 30.55% | -38.72% | -8.57% | -1.51% | 13.87% | 26.45% | 3.68% |
| Sep | -17.75% | -43.04% | -11.81% | -0.32% | 14.83% | 6.82% | -8.54% |
| Oct | -18.05% | 19.73% | -6.06% | -22.00% | -11.58% | -4.91% | -7.14% |
| Nov | 20.98% | -25.05% | -21.43% | -6.74% | -10.87% | 14.27%* | -4.81% |
| Dec | -25.74% | -38.99% | -13.82% | -8.32% | 0.45% | -- | -17.28% |
| Total | 17.71% | -94.49% | -37.73% | 18.89% | -3.59% | 61.15% | -6.34% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $10.70
SMA 50: $10.59
SMA 200: $9.34
Current: $10.89
EMA 12: $10.41
EMA 26: $10.53
MACD: -0.1238 | Signal: 0.0057
BEARISH
ADX (14): 25.07
TREND
+DI: 20.19
−DI: 20.44
Momentum Oscillators
RSI (14): 52.70
NEUTRAL
Stoch %K: 58.14
Stoch %D: 44.80
Williams %R: -22.71
Volume & Volatility
BB Upper: $12.77
BB Lower: $8.64
NEUTRAL
OBV: 138,099,046
Vol SMA 20: 6,446,039
Vol ROC: 71.87%
ATR: $0.90
True Range: $0.78
HV 20: 96.0%
HV 30: 109.3%
HV 60: 87.5%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-11T00:00:00 – 2026-11-09T00:00:00
AI Analysis
Written before NVAX’s Nov 5 earnings report, so it doesn’t reflect the results.
LLM Stock Analysis Report - NVAX
Executive Summary
Overall Assessment: BEARISH (Confidence Level: 6/10)
Key Drivers: Recent overbought RSI reading, MACD signal line crossovers, and high volatility.
Primary Risks: Technical breakdown, high volatility, and bearish news sentiment.
Investment Thesis: NVAX is a high-risk biotech stock with a strong technical trend, but recent price action suggests a potential reversal. The stock's beta is 1.80, indicating high volatility relative to the market.
Recent News Sentiment Impact: The neutral news headlines from the past week have not significantly impacted the stock's price or sentiment, as the market has focused on the company's fundamentals and technical trends.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): BEARISH
- Medium-term (1-3 months): NEUTRAL
- Long-term (3-12 months): BULLISH
Support/Resistance Levels:
- SMA 20: $8.92 (support)
- EMA 12: $9.54 (resistance)
- Upper Bollinger Band: $10.59 (resistance)
Momentum Signals:
- RSI: Overbought (>70) at 70.68
- MACD Signal Line Crossover: Bullish, but signal line is still below the zero line.
- Bollinger Bands: Neutral, as price has touched the middle band.
News & Sentiment Analysis
Recent Headlines Summary: The past week's news headlines have been neutral, with no significant market-moving events or announcements related to NVAX.
Sentiment Assessment: NEUTRAL (average sentiment from recent news articles)
Catalyst Identification: No specific catalysts identified in the recent news headlines.
Market Narrative: The market has been focused on NVAX's fundamentals and technical trends, rather than recent news headlines.
Risk & Volatility Assessment
Beta Interpretation: High risk relative to the market (beta >1.8).
Volatility Regime: Current volatility is higher than historical levels.
Options Market Signals: IV rank: Medium (66.5%); IV premium vs HV30: 172.2% (positive), indicating an implied richer price for options compared to historical realized volatility.
Market Context & Positioning
Sector Performance: NVAX's sector, biotech, has been performing relatively well recently.
Institutional Activity: Volume patterns suggest institutional interest in the stock.
Correlation Analysis: NVAX is highly correlated with the market (R-squared interpretation).
Relative Valuation: The stock is trading within a moderate range relative to its peers and historical values.
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $8.92 (support)
- EMA 12: $9.54 (resistance)
Breakout/Breakdown Levels:
- Upper Bollinger Band: $10.59 (resistance)
Time-Sensitive Catalysts: No specific catalysts identified in the recent news headlines.
Risk Management: Consider stop-loss levels around the SMA 20 and EMA 12, with position sizing considering the high volatility and bearish momentum signals.
Please note that this analysis is based on the data provided and should not be taken as personalized investment advice. The analysis is objective and highlights both bullish and bearish cases, but ultimately it's up to you to decide how to proceed with your investment decisions.
Generated
News
All NVAX news →
Earnings History
13 of 27 under expected move
Avg Expected Move
13.65%
Avg Actual Move
13.55%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-03-02 | Pre-Market | 12.57% | 14.27% | 1.14x | Exceeded |
| 2021-05-11 | Pre-Market | 12.48% | 13.91% | 1.11x | Exceeded |
| 2021-08-06 | Pre-Market | 8.95% | 19.61% | 2.19x | Exceeded |
| 2021-11-05 | Pre-Market | 9.31% | 11.27% | 1.21x | Exceeded |
| 2022-03-01 | Pre-Market | 17.28% | 0.44% | 0.03x | Within |
| 2022-05-10 | Pre-Market | 15.62% | 1.13% | 0.07x | Within |
| 2022-08-09 | Pre-Market | 16.14% | 29.64% | 1.84x | Exceeded |
| 2022-11-08 | Pre-Market | 22.44% | 1.13% | 0.05x | Within |
| 2023-02-28 | Pre-Market | 14.42% | 6.81% | 0.47x | Within |
| 2023-05-09 | Pre-Market | 23.89% | 27.79% | 1.16x | Exceeded |
| 2023-08-08 | Pre-Market | 17.55% | 3.86% | 0.22x | Within |
| 2023-11-09 | Pre-Market | 15.74% | 1.32% | 0.08x | Within |
| 2024-01-08 | Pre-Market | 10.60% | 3.00% | 0.28x | Within |
| 2024-02-28 | Pre-Market | 19.77% | 26.74% | 1.35x | Exceeded |
| 2024-05-10 | Pre-Market | 10.29% | 98.66% | 9.59x | Exceeded |
| 2024-08-08 | Pre-Market | 18.21% | 9.06% | 0.50x | Within |
| 2024-11-12 | After-Close | 6.74% | 8.22% | 1.22x | Exceeded |
| 2025-01-13 | Pre-Market | 9.07% | 7.62% | 0.84x | Within |
| 2025-02-27 | Pre-Market | 19.06% | 3.55% | 0.19x | Within |
| 2025-05-08 | After-Close | 6.31% | 10.29% | 1.63x | Exceeded |
| 2025-08-06 | Pre-Market | 12.04% | 12.63% | 1.05x | Exceeded |
| 2025-11-06 | Pre-Market | 15.21% | 1.30% | 0.09x | Within |
| 2026-01-12 | After-Close | 6.90% | 11.87% | 1.72x | Exceeded |
| 2026-02-26 | Pre-Market | 12.17% | 17.42% | 1.43x | Exceeded |
| 2026-05-06 | Pre-Market | 11.05% | 15.56% | 1.41x | Exceeded |
| 2026-08-06 | Pre-Market | 11.95% | 0.52% | 0.04x | Within |
| 2026-11-05 | Pre-Market | 12.77% | 8.17% | 0.64x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
NVAX Options Activity & IV Rank
NVAX IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 90.6%
7-DTE IV: 79.1%
Expected Move: $2.48
7-DTE Move: $0.77
Days to Exp: 32 (2026-12-11)
Options Flow · All expiries
Call Volume: 7,567
Put Volume: 3,590
P/C Volume: 0.474
BULLISH
Call OI: 163,956
Put OI: 92,646
P/C OI: 0.565
Total OI: 256,602
ATM Options Pricing
ATM Call: $0.71
ATM Put: $1.76
Call %: 6.6%
Put %: 16.2%
Chain Summary
Chain Volume: 11,157
Chain OI: 256,602
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 52nd percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
52%
vs own history
GEX tilt
+0.30
OI-weighted, today
Vanna tilt
+0.37
δ-sensitivity to IV
Charm tilt
-0.33
δ-decay vs time
Vanna tilt +0.37: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.33: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 51 ATM contracts, 62k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
75%
+6.3
pts
EXTREME
ATM 78.9% / Wing 85.2%
30 DTE / 10d
—
—
pts
EXTREME
ATM 76.5% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)30.7MediumNov 9
IV Rank (30 DTE)25.9MediumNov 9
Straddle Price (30 DTE)$2.48Nov 9
Beta Analysis
Risk Metrics
Beta: 2.0358
Alpha: 38.24%
Correlation: 0.3856
R-Squared: 14.9%
Stock Volatility: 72.6%
Market Volatility: 13.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own NVAX
6 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Coatue Management Hedge fund Philippe Laffont | $36.1M | #43 of 66 | 0.0% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $16.7M | #1246 of 3716 | -54.1% | 13F | |
| Citadel Hedge fund Ken Griffin | $16.0M | #1285 of 6285 | +50.9% | 13F | |
| Point72 Hedge fund Steve Cohen | $11.5M | #722 of 1945 | -14.4% | 13F | |
| Renaissance Technologies Hedge fund Jim Simons | $4.7M | #1503 of 3138 | +0.9% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $40K | #3466 of 4729 | -25.2% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
NVAX Institutional Ownership (13F)
Filings for 2026-06-30 · 97 already for 2026-09-30
? 13F Guide
Diluted shares outstanding: 166,998,250 (as of 2026-09-30)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
20 filers$106.02M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $37.14M | 35.04% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $9.04M | 8.52% | 2026-06-30 |
| 3 | Citigroup Inc. Custodian | $8.34M | 7.87% | 2026-09-30 |
| 4 | TUDOR INVESTMENT CORP ET AL | $8.23M | 7.76% | 2026-06-30 |
| 5 | UBS Group AG Custodian | $7.00M | 6.60% | 2026-06-30 |
| 6 | IMC-Chicago, LLC Custodian | $6.16M | 5.81% | 2026-09-30 |
| 7 | Jane Street Group, LLC Custodian | $5.40M | 5.09% | 2026-06-30 |
| 8 | D. E. Shaw & Co., Inc. Custodian | $4.35M | 4.10% | 2026-06-30 |
| 9 | GROUP ONE TRADING LLC Custodian | $3.59M | 3.39% | 2026-06-30 |
| 10 | Simplex Trading, LLC Custodian | $3.55M | 3.35% | 2026-09-30 |
| 11 | Goldman Sachs Group Inc Custodian | $3.54M | 3.34% | 2026-06-30 |
| 12 | NOMURA HOLDINGS INC | $2.83M | 2.67% | 2026-06-30 |
| 13 | Barclays PLC Custodian | $1.94M | 1.83% | 2026-09-30 |
| 14 | Point72 Asset Management, L.P. | $1.88M | 1.78% | 2026-06-30 |
| 15 | Walleye Trading LLC | $1.52M | 1.43% | 2026-06-30 |
| 16 | PEAK6 LLC | $471.00K | 0.44% | 2026-06-30 |
| 17 | SUMMIT SECURITIES GROUP LLC | $432.40K | 0.41% | 2026-09-30 |
| 18 | Millennium Management LLC Custodian | $423.90K | 0.40% | 2026-06-30 |
| 19 | Walleye Capital LLC | $175.21K | 0.17% | 2026-06-30 |
| 20 | Royal Bank of Canada Custodian | $4.00K | <0.01% | 2026-06-30 |
18 filers$126.18M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Graham Capital Management, L.P. | $39.31M | 31.16% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $30.82M | 24.42% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $17.21M | 13.64% | 2026-06-30 |
| 4 | GROUP ONE TRADING LLC Custodian | $7.18M | 5.69% | 2026-06-30 |
| 5 | WOLVERINE ASSET MANAGEMENT LLC | $4.25M | 3.37% | 2026-09-30 |
| 6 | Goldman Sachs Group Inc Custodian | $3.53M | 2.80% | 2026-06-30 |
| 7 | Walleye Trading LLC | $3.53M | 2.80% | 2026-06-30 |
| 8 | IMC-Chicago, LLC Custodian | $3.41M | 2.70% | 2026-09-30 |
| 9 | Simplex Trading, LLC Custodian | $3.27M | 2.59% | 2026-09-30 |
| 10 | D. E. Shaw & Co., Inc. Custodian | $2.83M | 2.24% | 2026-06-30 |
| 11 | Jane Street Group, LLC Custodian | $2.34M | 1.86% | 2026-06-30 |
| 12 | NOMURA HOLDINGS INC | $1.88M | 1.49% | 2026-06-30 |
| 13 | Caption Management, LLC | $1.88M | 1.49% | 2026-06-30 |
| 14 | Sculptor Capital LP | $1.87M | 1.48% | 2026-06-30 |
| 15 | Barclays PLC Custodian | $1.68M | 1.33% | 2026-09-30 |
| 16 | Bank of Montreal Custodian | $958.96K | 0.76% | 2026-06-30 |
| 17 | Walleye Capital LLC | $211.01K | 0.17% | 2026-06-30 |
| 18 | Marshall Wace, LLP Custodian | $1.88K | <0.01% | 2026-06-30 |
NVAX Insider Trading (Form 4)
Latest: 2026-06-23Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-06-23 | Charles W. Newton | Director | Grant (A) | +35,450 opt | — | EDGAR | |
| 2026-06-23 | Richard J Rodgers | Director | Exer (M) | +18,880 | — | EDGAR | |
| 2026-06-23 | David M Mott | Director | Exer (M) | +18,880 | — | EDGAR | |
| 2026-06-23 | Richard Douglas | Director | Exer (M) | +18,880 | — | EDGAR | |
| 2026-06-23 | Rachel K. King | Director | Exer (M) | +18,880 | — | EDGAR | |
| 2026-06-23 | Margaret G McGlynn | Director | Exer (M) | +18,880 | — | EDGAR | |
| 2026-06-23 | John W. Shiver | Director | Grant (A) | +35,450 opt | — | EDGAR | |
| 2026-06-23 | Gregg H Alton | Director | Exer (M) | +18,880 | — | EDGAR | |
| 2026-04-28 | Charles W. Newton | Director | Exer (M) | +9,520 | — | EDGAR | |
| 2026-04-16 | Robert Edward Walker | EVP, R&D | Grant (A) | +165,500 opt | — | EDGAR | |
| 2026-03-12 | John W. Shiver | Director | Exer (M) | +7,947 | — | EDGAR | |
| 2026-03-09 | Mark J Casey | EVP, Chief Legal Officer | Grant (A) | +152,000 opt | — | EDGAR | |
| 2026-03-09 | Ruxandra Draghia-Akli | EVP, Research & Development | Grant (A) | +139,500 opt | — | EDGAR | |
| 2026-03-09 | James Patrick Kelly | EVP, CFO and Treasurer | Grant (A) | +194,000 opt | — | EDGAR | |
| 2026-03-09 | Elaine O'Hara | EVP, Chief Strategy Officer | Grant (A) | +177,500 opt | — | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
NVAX Insider Holdings
15 insiders · @ $10.89
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | John C Jacobs | President and CEO | 225,680 | $2.46M | $0 | 10 | 2026-03-09 |
| 2 | Elaine O'Hara | EVP, Chief Strategy Officer | 134,642 | $1.47M | $0 | 8 | 2026-03-09 |
| 3 | James Patrick Kelly | EVP, CFO and Treasurer | 130,599 | $1.42M | $0 | 18 | 2026-03-09 |
| 4 | Mark J Casey | EVP, Chief Legal Officer | 90,067 | $980.8K | $0 | 9 | 2026-03-09 |
| 5 | John Trizzino | President and COO | 82,015 | $893.1K | -$26.07M | 61 | 2025-03-11 |
| 6 | David M Mott | Director | 79,770 | $868.7K | -$6.31M | 11 | 2026-06-23 |
| 7 | Richard Douglas | Director | 73,220 | $797.4K | $891.7K | 29 | 2026-06-23 |
| 8 | James F Young | Director | 58,660 | $638.8K | -$5.20M | 37 | 2025-01-02 |
| 9 | Gregg H Alton | Director | 47,685 | $519.3K | $0 | 10 | 2026-06-23 |
| 10 | Richard J Rodgers | Director | 47,370 | $515.9K | $0 | 9 | 2026-06-23 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
NVAX Board & Officers
As of SEC filings through Jun 23, 2026Directors 9
- Richard Douglas · since Aug 6, 2010
- Rachel K. King · since Oct 31, 2018
- David M Mott · since Jun 16, 2020
- Gregg H Alton · since Oct 31, 2020
- Margaret G McGlynn · since Dec 7, 2020
- Richard J Rodgers · since Oct 29, 2022
- John C Jacobs · since Jan 23, 2023
- John W. Shiver · since Mar 10, 2025
- Charles W. Newton · since Apr 25, 2025
Officers 6
- John C Jacobs · President and CEO · since Jan 23, 2023
- James Patrick Kelly · EVP, CFO and Treasurer · since Aug 16, 2021
- Elaine O'Hara · EVP, Chief Strategy Officer · since Mar 1, 2023
- Mark J Casey · EVP, Chief Legal Officer · since Dec 11, 2023
- Ruxandra Draghia-Akli · EVP, Research & Development · listed since Mar 2026
- Robert Edward Walker · EVP, R&D · since Apr 14, 2026
Changes in the last 10 years (32)
| Apr 14, 2026 | Robert Edward Walker became EVP, R&D |
| Mar 5, 2026 | Ruxandra Draghia-Akli listed as EVP, Research & Development (previously Section 16) in SEC filings |
| May 27, 2025 | The company announced the departure of John Trizzino as President and COO in an SEC filing |
| Apr 25, 2025 | Charles W. Newton became a director |
| Mar 10, 2025 | The company announced the departure of James F Young from the board in an SEC filing |
| Mar 10, 2025 | John W. Shiver became a director |
| Mar 4, 2025 | John Trizzino listed as President and COO (previously EVP, CCO and CBO) in SEC filings |
| Nov 11, 2024 | Ruxandra Draghia-Akli became Section 16 |
| May 20, 2024 | The company announced the departure of Filip Dubovsky as President, R&D in an SEC filing |
| Dec 11, 2023 | Mark J Casey became EVP, Chief Legal Officer |
| Nov 13, 2023 | The company announced the departure of John A Herrmann III as EVP, Chief Legal Officer in an SEC filing |
| Jun 16, 2023 | Filip Dubovsky became President, R&D |
| Mar 1, 2023 | Elaine O'Hara became EVP, Chief Strategy Officer |
| Feb 28, 2023 | The company announced the departure of Gregory M Glenn as President, R&D in an SEC filing |
| Jan 23, 2023 | John C Jacobs became a director |
| Jan 23, 2023 | John C Jacobs became President and CEO |
| Jan 5, 2023 | The company announced the departure of Stanley C Erck from the board in an SEC filing |
| Jan 5, 2023 | The company announced the departure of Stanley C Erck as President and CEO in an SEC filing |
| Oct 29, 2022 | Richard J Rodgers became a director |
| Aug 20, 2021 | John Trizzino listed as EVP, CCO and CBO (previously EVP, CCO, CBO & Interim CFO) in SEC filings |
| Aug 16, 2021 | James Patrick Kelly became EVP, CFO and Treasurer |
| May 7, 2021 | John Trizzino listed as EVP, CCO, CBO & Interim CFO (previously EVP, Chief Commercial Officer) in SEC filings |
| Jan 27, 2021 | John Trizzino listed as EVP, Chief Commercial Officer (previously EVP, CMO and CBO) in SEC filings |
| Dec 16, 2020 | John Trizzino listed as EVP, CMO and CBO (previously EVP, CBO and CFO) in SEC filings |
| Dec 7, 2020 | Margaret G McGlynn became a director |
| Nov 16, 2020 | Gregory F Covino became EVP, Chief Financial Officer |
| Oct 31, 2020 | Gregg H Alton became a director |
| Jun 29, 2020 | John Trizzino listed as EVP, CBO and CFO (previously SVP, CBO and CFO) in SEC filings |
| Jun 29, 2020 | John A Herrmann III listed as EVP, Chief Legal Officer (previously SVP, General Counsel) in SEC filings |
| Jun 16, 2020 | David M Mott became a director |
| Oct 31, 2018 | Rachel K. King became a director |
| May 15, 2018 | John Trizzino listed as SVP, CBO and CFO (previously SVP, Commercial Operations) in SEC filings |
Not reported recently (5)
- Michael A McManus Jr · Last reported as a director in an SEC filing dated Jun 21, 2022
- Gary C Evans · Last reported as a director in an SEC filing dated Jun 22, 2021
- Gregory F Covino · Last reported as EVP, Chief Financial Officer in an SEC filing dated Nov 18, 2020
- Barclay A Phillips · Last reported as SVP, Chief Financial Officer in an SEC filing dated Aug 1, 2017
- Gail Boudreaux · Last reported as a director in an SEC filing dated Mar 20, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
NVAX Proposed Insider Sales (Form 144)
Latest: 2026-05-27
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
0 filings
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-05-27 | Ruxandra Draghia Akli | Former Officer | 21,383 | $235.4K | 2026-05-27 | Merrill Lynch | — | EDGAR |
| 2026-05-07 | Ruxandra Draghia Akli | Former Officer | 30,000 | $296.1K | 2026-05-07 | Merrill Lynch | — | EDGAR |
| 2025-05-19 | YOUNG JAMES F | Former Director | 10,000 | $75.9K | 2025-05-19 | Merrill Lynch | — | EDGAR |
| 2025-04-14 | YOUNG JAMES F | Former Director | 4,000 | $24.4K | 2025-04-14 | Merrill Lynch | — | EDGAR |
| 2025-01-02 144/A | YOUNG JAMES F | Director | 10,000 | $84.8K | 2024-12-24 | Merrill Lynch | — | EDGAR |
| 2024-12-13 | Rachel K. King | Board Member | 4,150 | $37.4K | 2024-12-13 | UBS Financial Services Inc | — | EDGAR |
| 2024-09-18 | Dubovsky Filip | Officer | 7,335 | $95.3K | 2024-09-18 | Merrill Lynch | 10b5-1 | EDGAR |
| 2024-06-18 | YOUNG JAMES F | Director | 15,000 | $205.7K | 2024-06-18 | Merrill Lynch | — | EDGAR |
| 2024-06-17 | Dubovsky Filip | Officer | 13,904 | $201.2K | 2024-06-17 | Merrill Lynch | — | EDGAR |
| 2024-05-14 | Dubovsky Filip | Officer | 47,312 | $657.4K | 2024-05-14 | Merrill Lynch | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-11-05
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
| Filing Date | Accession | Link |
|---|
ETF Holders
61 ETFs hold NVAX
25 shown · $328.19M total exposure · 0.07% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.00% | $56.2M | — | 2026-09-30 |
| 2 | XBI State Street® SPDR® S&P® Biotech ETF | SPDR (State Street) | 0.46% | $46.6M | $10.0B | 2026-11-05 |
| 3 | IWM iShares Russell 2000 ETF | iShares (BlackRock) | 0.06% | $42.9M | $76.6B | 2026-11-06 |
| 4 | VB Vanguard Morningstar Small-Cap ETF | Vanguard | 0.02% | $40.2M | — | 2026-09-30 |
| 5 | VBK Vanguard Morningstar Small-Cap Growth ETF | Vanguard | 0.05% | $22.4M | — | 2026-09-30 |
| 6 | VXF Vanguard Extended Market ETF | Vanguard | 0.02% | $20.2M | — | 2026-09-30 |
| 7 | IWN iShares Russell 2000 Value ETF | iShares (BlackRock) | 0.11% | $15.7M | $13.9B | 2026-11-06 |
| 8 | IBB iShares Biotechnology ETF | iShares (BlackRock) | 0.12% | $12.8M | $11.1B | 2026-11-06 |
| 9 | PBE Invesco Biotechnology & Genome ETF | Invesco | 2.81% | $12.1M | — | 2026-11-05 |
| 10 | VTWO Vanguard Russell 2000 ETF | Vanguard | 0.05% | $9.6M | — | 2026-09-30 |
| 11 | FESM Fidelity Enhanced Small Cap Core ETF | Fidelity | 0.12% | $7.8M | $6.6B | 2026-11-05 |
| 12 | SCHA Schwab U.S. Small-Cap ETF | Nport | 0.03% | $7.3M | — | 2026-08-31 |
| 13 | IDNA iShares Genomics Immunology and Healthcare ETF | iShares (BlackRock) | 1.47% | $5.2M | $346.3M | 2026-11-06 |
| 14 | FYC First Trust Small Cap Growth AlphaDEX® Fund | First Trust | 0.39% | $5.1M | $1.3B | 2026-11-06 |
| 15 | VHT Vanguard Health Care ETF | Vanguard | 0.02% | $4.6M | — | 2026-09-30 |
| 16 | SMLF iShares U.S. Small-Cap Equity Factor ETF | iShares (BlackRock) | 0.07% | $2.9M | $4.2B | 2026-11-06 |
| 17 | KOMP State Street® SPDR® S&P Kensho New Economies Composite ETF | SPDR (State Street) | 0.12% | $2.9M | $2.3B | 2026-11-05 |
| 18 | ITOT iShares Core S&P Total U.S. Stock Market ETF | iShares (BlackRock) | 0.00% | $2.7M | $93.2B | 2026-11-06 |
| 19 | EES WisdomTree U.S. SmallCap Fund | Nport | 0.34% | $2.5M | — | 2026-06-30 |
| 20 | FYX First Trust Small Cap Core AlphaDEX® Fund | First Trust | 0.12% | $1.7M | $1.4B | 2026-11-06 |
| 21 | LABU Direxion Daily S&P Biotech Bull 3X ETF | Direxion | 0.32% | $1.7M | — | 2026-11-06 |
| 22 | PRF Invesco RAFI US 1000 ETF | Invesco | 0.02% | $1.6M | — | 2026-11-05 |
| 23 | VTWV Vanguard Russell 2000 Value ETF | Vanguard | 0.11% | $1.5M | — | 2026-09-30 |
| 24 | FSCC Federated Hermes MDT Small Cap Core ETF | Nport | 0.33% | $1.2M | — | 2026-08-31 |
| 25 | BBP Virtus Biotech Etf | Nport | 1.14% | $1.1M | — | 2026-07-31 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-0.47
TTM Revenue
$411.65M
TTM Net Income
$-76.73M
TTM Op. Cash Flow
$-238.95M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q3 '26 | 2026-09-30 | $68.30M | $-31.38M | $-0.19 | $-94.24M |
| Q2 '26 | 2026-06-30 | $56.70M | $-53.39M | $-0.32 | $-72.81M |
| Q1 '26 | 2026-03-31 | $139.51M | $-9.49M | $-0.06 | $-32.42M |
| Q4 '25 | 2025-12-31 | $147.14M | $17.53M | $0.05 | $-39.48M |
| Q3 '25 | 2025-09-30 | $70.44M | $-202.38M | $-1.25 | $107.80M |
| Q2 '25 | 2025-06-30 | $239.24M | $106.51M | $0.62 | $-127.46M |
| Q1 '25 | 2025-03-31 | $666.65M | $518.65M | $2.93 | $-185.50M |
| Q4 '24 | 2024-12-31 | $88.31M | $-81.03M | $-0.52 | $-173.16M |
| Q3 '24 | 2024-09-30 | $84.51M | $-121.30M | $-0.76 | $-144.81M |
| Q2 '24 | 2024-06-30 | $415.48M | $162.38M | $0.99 | $314.27M |
| Q1 '24 | 2024-03-31 | $93.86M | $-147.55M | $-1.05 | $-83.56M |
| Q4 '23 | 2023-12-31 | $291.34M | $-178.39M | $-1.47 | $-176.78M |
Q3 2026 • period ending 2026-09-30 • filed 2026-11-05
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
—
P/S
4.36
EV/EBITDA
—
EV/Sales
4.61
ROE
—
ROA
-25.9%
Div Yield
0.00%
FCF Yield
-2.04%
Debt/Equity
—
Current Ratio
—
Market Cap
$1.81B
as of 2026-11-09
NVAX vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| AMGN Amgen Inc | $249.0B | 27.0 | +8.2% | +42.0% | 32 |
| GILD Gilead Sciences Inc | $207.0B | — | +6.5% | +39.2% | 47 |
| VRTX Vertex Pharmaceuticals Inc | $138.7B | 35.4 | +10.5% | +21.8% | 64 |
| MRNA Moderna, Inc. Common Stock | $101.5B | — | −27.6% | +771.7% | 53 |
| REGN Regeneron Pharmaceuticals Inc | $93.6B | 20.3 | +18.6% | +18.5% | 64 |
| NTRA Natera, Inc. Common Stock | $45.1B | — | +36.6% | +40.0% | 43 |
| BIIB Biogen Inc. Common Stock | $36.7B | 108.9 | +2.3% | +43.3% | 100 |
| EXEL Exelixis Inc | $17.0B | 21.5 | +9.1% | +64.6% | 47 |
| NVAX Novavax Inc | $1.8B | — | −61.3% | +52.7% | 26 |
| Peer median | $97.5B | 27.0 | +8.6% | +41.0% | 50 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
47.35M
SI % of Float
30.29%
Days to Cover
4.34
Short Vol Ratio
64.2%
Free Float
156.33M
Float %
95.1%
Short interest 2026-10-15 • Short volume 2026-11-09 • Float 2026-05-15